Georgia: The Committee on Environment and Natural Resources discussed and endorsed two instruments of ratification at today’s meeting.
- “Grant Agreement between Georgia (Recipient) and the Scandinavian Environment Finance Corporation (as the Agency for the Implementation of the E5P-funded project” Rehabilitation of Public Schools in the Mountainous Regions of Georgia and Improving Energy Efficiency “)
- “Loan Agreement between Georgia and the Scandinavian Environment Finance Corporation (” Rehabilitation of Public Schools in the Mountainous Regions of Georgia and Improvement of Energy Efficiency “).
According to the First Deputy Minister of Finance, Ekaterine Guntsadze, a specific project is aimed at improving the social development platform and learning conditions for schoolchildren in selected mountainous regions.
The project consists of structural and energy efficiency components that will be implemented in the selected school building according to the specific needs of each school.
According to her, structural components may also include issues such as landscaping and other similar measures in the current area if this is done to improve the long-term structural integrity of the buildings.
As the rapporteur of the issue, Deputy Minister of Regional Development and Infrastructure Mzia Giorgobiani said, fifteen schools in the mountainous regions have been selected for the first stage.
Two important conditions for selecting schools were identified: school size based on the number of students and the rate of savings in terms of electricity costs.
“If financial resources allow us, we will add more schools. It is important that this amount will not be directed only to enhance energy efficiency; it will be the rehabilitation of schools in terms of energy efficiency, which is one of the most important issues given the current state of our schools, ” – said Mzia Giorgobiani.
The cost of the project is 6.5 million euros, of which loan financing is 3.9 million euros, and co-financing is in the form of a grant – 2.6 million euros.
The loan term is 10 years, including a 3-year grace period.
The project is implemented by the Municipal Development Fund of Georgia, and the money will be transferred to them for disposal.
The deadline for completion of the project is May 4, 2025.
